ET Now: If you wanted to buy one telecom stock, which one would it be Idea which has had a massive rally and continues to do very well or Bharti which has not had quite a bit of rally and still at those 320 to 340 kind of levels?

Avinnash Gorakssakar: I would bet on Bharti clearly because there are several news reports coming on the regulatory part. In terms of the business model and in terms of the kind of market share, Bharti definitely would benefit if ARPUs stabilise and we could see some more traction on the volume side.

ET Now: The debt does not concern you compared to an Idea?

Avinnash Gorakssakar: I would say that debt burdens will definitely have some overhang on the stock but clearly the company has a decent cash flow so it is not going to be so bad compared to other players. Although, in the near term may be in the next couple of quarters you could see margins at the net level being under pressure because of the higher interest cost but clearly I would presume the management is thinking of rescheduling or refinancing the debt or coming out with some other equity options probably that would help them may be over the longer term period.